Like Freyar said, I would recommend upgrading both. I would go for the i5s if money is a concern - it has good cost/performance while still being a nice improvement over what you have now. If you don't do much heavy gaming other than FFXIV I see no reason to get anything more fancy than the i5, although you might have to upgrade your CPU sooner than if you were to get an i7, which is something you'll have to think about. Since most games these days feed off your GPU rather than your CPU, you should be set for a good while with a moderate CPU upgrade.
With that being said, I'd definitely look more into upgrading your GPU if both is not an option. To be honest, I really don't know too much about nVidia cards, so I can't really point you in the right direction there. Just find the card that has the best cost/performance ratio and you should be okay, right? Just be careful it doesn't burst into flames (figuratively) like mine did! Thank the Gods that ARR is so much better optimized, even my old toaster can run it.
With that being said, I'd definitely look more into upgrading your GPU if both is not an option. To be honest, I really don't know too much about nVidia cards, so I can't really point you in the right direction there. Just find the card that has the best cost/performance ratio and you should be okay, right? Just be careful it doesn't burst into flames (figuratively) like mine did! Thank the Gods that ARR is so much better optimized, even my old toaster can run it.